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10991 Hillcreek Road Santee, CA 92071

3 Beds 3 Baths 1,990 sqft Built 1982

$715,000

List Price

$3,020

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $359.30
  • 9 Days on Market
  • MLS # : 200054929
  • Updated Date : 01/02/2021 at 20:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,990 sqft
  • Baths : 2 full , 1 half
Listing Agent

Mission Realty Group

Listing Agent's Description

BEAUTIFUL UPDATED HOME. SITS ABOVE WALKER PERSERVE TRAIL. BRAND NEW CONSTRUCTED GAZEBO. SOLAR PAID IN FULL. ALL BATHROOMS HAVE BEEN REMODELED. HUGE WALK IN CLOSET IN MB. NEW AIRCONDITIONING UNIT. VINYL SHUTTERS. NEW WINDOWS. LANDSCAPED YARD. NEW BACKYARD PAVERS. STORAGE SHED. FRONT PATIO WITH GAS FIREPIT. GREAT NEIGHBORHOOD. WALKING DISTANCE TO ELEMENTARY AND HIGH SCHOOL. NEAR HIGHWAYS, PARKS, YMCA, MARKETS, FOOD ESTABLISHMENTS.

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MARKET HIGHLIGHTS

  • Headquarters to several Fortune 500 companies: Amgen, Farmers Insurance, Walt Disney, Avery Dennison, Activision Blizzard, CBRE Group, Edison International, Molina Healthcare, First American Financial, Pacific Life, Qualcomm and Sempra Energy (Fortune, 2018)
  • Southern California produces more technology PhDs per year than any other region in the country and many of the higher educated students stay within Souther California contributing to readily available workforce skills making the area more attractive than Silicon Valley (BCG, 2018)
  • As part of Southern California area, San Diego market inherits all the benefits from the area.
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)
  • The area has major technology nodes of excellence: Los Angeles (Media and entertainment); Pasadena (High-tech engineering, data analytics); Riverside (Agtech, transportation/ distribution); San Diego (Healthcare, biotech, wireless communications); Irvine (Medtech, cyber security); El Segundo (Aerospace and defense IT, space transport) [BCG, 2018]
  • Southern California has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (USMayors.org, 2018)
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Santee

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550kPrice in $205k594k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Santee

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q215001600170018001900200021002200230024002500260027002800Rent in $14702885

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Hill Creek School Primary Regular 749 30 6
Hill Creek School Middle Regular 749 30 6
Santana High School High Regular 1,509 58 8

Hill Creek School

  • Education Level: Primary
  • # of students: 749
  • # of teachers: 30
6
GreatSchools Rating

Hill Creek School

  • Education Level: Middle
  • # of students: 749
  • # of teachers: 30
6
GreatSchools Rating

Santana High School

  • Education Level: High
  • # of students: 1,509
  • # of teachers: 58
8
GreatSchools Rating
 

$643,500$786,500$715,000

PURCHASE PRICE

$2,718$3,322$3,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,020
EXPENSES Loan Payment -$2,638
Property Tax -$724
Property Insurance -$77
Property Management Fees -$129
CASH FLOW
-$549

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$715,000

PROJECTED PRICE

$3,020

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 8.00%
Vacancy 4.80%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$195,225

INVESTMENT

$195,225

Down Payment
$178,750
Rehab Estimate
$5,750
Closing Costs
$10,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,638

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $178,750
Loan Amount $536,250
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$23,135

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $3,254

    COMP ESTIMATED VALUE
  • $1.64

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,9953$3,000
$3,000
RENT COMPS ANALYSIS
  • 10991 Hillcreek Road Santee, CA 1
    • 3 beds 3 baths ∙ 1,990 Sqft ∙ Built 1982 3 beds 3 baths ∙ 1,990 Sqft ∙ Built 1982
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 10326 Escadera Drive Lakeside, CA 2
    • 4 beds 2 baths ∙ 1,665 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,665 Sqft ∙ Built 1972
    property image
    LEASED 03/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.80
    •  
  • 9772 San Remo Court Santee, CA 3
    • 4 beds 3 baths ∙ 2,036 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,036 Sqft ∙ Built 1991
    property image
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.47
    •  
PROPERTY LISTING DETAILS
Robin Fries
1.619.454.1346
Mission Realty Group
BESbswy